Money laundering is a massive threat. The financial sector can help prevent it.

Money laundering is the process of converting funds obtained through illegal activities into clean cash. This type of crime hurts society because it robs public coffers and deprives citizens of revenues that could fund better public services. And it has devastating consequences for the economy, society and our security. Most people associate money laundering with activities such as drug dealing, prostitution and gambling. But those are just its most recognized facets. A multitude of illicit activities, such as terrorism, arms dealing, sex trade, government corruption, organized crime and human trafficking are also connected to financial crime.